North America Flaxseed Market
North America Market Study on Flaxseed: Ability to Increase Nutritional Value of Milk Driving Demand
North America Flaxseed Market Segmented By Milled Flaxseed, Whole Flaxseed, Flaxseed Oil Types in Bakery Products and Cereals, Energy Bars, Flaxseed Meal Powders, Supplements, Flour, Animal Food
The North America flaxseed market experienced stable growth and amassed revenue worth US$ 1.5 Bn in 2021. Revised data from the analysis by Persistence Market Research has predicted the market to progress at a modest CAGR of around 4% over the next ten years. The study also suggests that the market is expected to rope in revenue worth US$ 2.2 Bn in 2031, offering an incremental dollar opportunity worth US$ 720 Mn over the next ten years.
Find Out More about the Report Coverage
- AgMotion Inc.
- Linwoods Health Foods.
- CanMar Grain Products Ltd.
- TA Foods Limited.
- Archer Daniels Midland Company.
- Stober Farms LLC.
- Heartland Flax.
- Shape Foods Inc.
- Healthy Food Ingredients LLC.
- Zeghers Seed Inc.
- Bioriginal Food & Science Corporation.
Key Points Covered in North America Flaxseed Industry Survey:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, country-wise, and region-wise analysis
- Competition mapping and benchmarking
- Brand share and market share analysis
- Key product innovations and regulatory climate
- COVID-19 impact on flaxseed sales and how to navigate
- Recommendation on key winning strategies
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Research on Flaxseed to Boost Application
Increasing health awareness and rise in the popularity of nutrient-rich foods have completely changed the demand outlook for pumpkin seeds, chia seeds, hemp seeds, and flaxseeds. These seeds have amazing nutrient density and are rich in many essential minerals and omega 3 fatty acids.
Due to their rich content, these seeds have gained popularity and are in major demand due to the growing healthy lifestyle trend. Research on these foods has also increased, and hence, more benefits are being realized.
One such study by Iranian and Australian researchers found the effect of flaxseed feed-in hens for better egg quality. The team discovered that extruded flaxseed had the best result and improved the fatty acids profile, blood factors, and antioxidant capacity in hens. Egg production also increased naturally with the increase in feed intake of extruded flaxseeds. The protein content was also seen to be higher in the study.
In 2019, a similar study was carried out by researchers at the University of California, where they explored the use of flaxseed-based feed additives in the diet of dairy cows. This was done to increase the level of omega-3 long-chain fatty acids in milk and possibly improve reproduction. The research found that it was possible to enhance the nutritional value of milk by using flaxseeds.
The application of flaxseed is increasing as research has increased, which, in turn, is lending further impetus to market expansion.
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In this report, the North America market is tracked from the consumption point of view in terms of both value and volume. The North America flaxseed market is anticipated to grow from US$ 1.56 Bn in 2021 to US$ 2.28 Bn by 2031, expanding at a CAGR of nearly 4% in terms of revenue during the forecast period (2021–2031).
Increasing health awareness, increasing demand for clean label, and increasing popularity and consumer demand for vegan ingredients is anticipated to drive the growth of the North America flaxseed over the forecast period.
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Drivers of North America Flaxseed Market
Demand for flaxseed across the food processing industry is growing steadily and can be attributed to the various health benefits associated with flaxseed consumption.
Some of its benefits include lower cholesterol levels, lower risk of heart diseases, and improved digestive health. Growing consumer preference towards a healthy lifestyle is further fueling the growth of the flaxseed market currently.
Which Factors are Restraining Market Growth?
One of the major restraints for the growth of the flaxseed market are that flaxseed contains only Alpha-Linolenic Acid (ALA), but does not contain Eicosapentaenoic (EPA) and Docosahexaenoic Acid (DHA), thereby limiting its demand.
Though a certain amount (typically less than 5%) of ALA gets converted into EPA, end-use industries prefer using fish oil as an ingredient in order to deliver the required amount of EPA and DHA in food products. This factor is anticipated to restrain the growth of the flaxseed market over the forecast period.
In terms of segmentation the North America flaxseed market is bifurcated further into type segment which comprises of milled (ground) flaxseed, whole flaxseed, flaxseed oil.
The food application segment accounted for 1/5 volume share of the overall market in North America, which is expected to rise up to 1/4 by the end of 2031. The segment is expected to expand at the highest CAGR over the forecast period, followed by the animal food segment in terms of volume.
The US and Canada
In terms of volume, the U.S. flaxseed market dominated the overall market in the North America region in 2021, and it is also expected to continue its dominance over the forecast period between 2021 and 2031, as compared to the Canada flaxseed market.
In terms of value, the U.S. flaxseed market is anticipated to expand at a CAGR of 4.2% during 2021 to 2031, whereas, the market in Canada is experience stagnant growth during the same period.
The price of flaxseed is forecasted on the basis of the historic price trend and several other factors, including production, demand, import & export, and end-stock of flaxseed.
Canada is the largest producer and exporter of flaxseeds worldwide. Export in Europe is expected to decrease owing to increasing supply from Russia, Ukraine, and Kazakhstan. However, export of flaxseed to Asia Pacific is anticipated to increase significantly over the forecast period. The U.S. mostly imports flaxseed from Canada and exports it to Europe.
Key Market Players
Key players in the North America flaxseed market include AgMotion Inc., Linwoods Health Foods, CanMar Grain Products Ltd., TA Foods Limited, Archer Daniels Midland Company, Stober Farms LLC, Heartland Flax, Shape Foods Inc., Healthy Food Ingredients LLC, Zeghers Seed Inc., and Bioriginal Food & Science Corporation.